Flag Ship Acquisition (NASDAQ:ETHZ) Trading Down 3.9% – Here’s Why

Shares of Flag Ship Acquisition Corp. (NASDAQ:ETHZ) fell 3.9% during mid-day trading on Monday . The company traded as low as $5.16 and last traded at $5.16. 87,123 shares changed hands during trading, a decline of 99% from the average daily volume of 6,436,919 shares. The stock had previously closed at $5.37.

Flag Ship Acquisition Trading Up 11.2%

The company has a quick ratio of 10.07, a current ratio of 10.07 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average is $5.42 and its two-hundred day moving average is $4.31. The firm has a market cap of $111.03 million, a price-to-earnings ratio of -0.04 and a beta of 1.17.

Institutional Investors Weigh In On Flag Ship Acquisition

A hedge fund recently bought a new position in Flag Ship Acquisition stock. DRW Securities LLC purchased a new stake in Flag Ship Acquisition Corp. (NASDAQ:ETHZ) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 270,733 shares of the company’s stock, valued at approximately $1,327,000. DRW Securities LLC owned about 1.42% of Flag Ship Acquisition as of its most recent SEC filing. 4.07% of the stock is currently owned by hedge funds and other institutional investors.

Flag Ship Acquisition Company Profile

1180 Life Sciences Corp., a clinical-stage biotechnology company, develops therapeutics for unmet medical needs in chronic pain, inflammation, fibrosis, and other inflammatory diseases. Its product development platforms include fibrosis and anti-tumor necrosis factor (anti-TNF) platform, which is under Phase IIb clinical trials that focuses on fibrosis and Anti-TNF; Synthetic Cannabidiol (CBD) Analogs platform, which is under preclinical trials that are man-made derivatives of CBD; and a7nAChR platform, an immune suppressive, which is under preclinical trails that focuses on alpha 7 nicotinic acetylcholine receptor.